| Schedule of Segment Information |
The Company’s revenue and significant expenses by segment regularly reviewed
by the CODM, and other segment items for the three months ended March 31, 2025 and 2024 are as follows:
| |
|
Three Months Ended March 31, 2025 |
|
|
Three Months Ended March 31, 2024 |
|
| |
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
| Product revenue |
|
$ |
- |
|
|
$ |
3,223,973 |
|
|
$ |
3,223,973 |
|
|
$ |
2,274 |
|
|
$ |
- |
|
|
$ |
2,274 |
|
| Service and subscription revenue |
|
|
11,698 |
|
|
|
797,143 |
|
|
|
808,841 |
|
|
|
14,410 |
|
|
|
295,177 |
|
|
|
309,587 |
|
| Development revenue |
|
|
215,368 |
|
|
|
- |
|
|
|
215,368 |
|
|
|
295,148 |
|
|
|
18,000 |
|
|
|
313,148 |
|
| Revenue, net |
|
|
227,066 |
|
|
|
4,021,116 |
|
|
|
4,248,182 |
|
|
|
311,832 |
|
|
|
313,177 |
|
|
|
625,009 |
|
| Cost of goods sold |
|
|
381,648 |
|
|
|
2,377,984 |
|
|
|
2,759,632 |
|
|
|
416,618 |
|
|
|
603,373 |
|
|
|
1,019,991 |
|
| Gross profit (loss) |
|
|
(154,582 |
) |
|
|
1,643,132 |
|
|
|
1,488,550 |
|
|
|
(104,786 |
) |
|
|
(290,196 |
) |
|
|
(394,982 |
) |
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General and administration |
|
|
855,400 |
|
|
|
3,416,222 |
|
|
|
4,271,622 |
|
|
|
1,405,251 |
|
|
|
2,354,918 |
|
|
|
3,760,169 |
|
| Sales and marketing |
|
|
748,994 |
|
|
|
1,681,116 |
|
|
|
2,430,110 |
|
|
|
646,457 |
|
|
|
661,123 |
|
|
|
1,307,580 |
|
| Research and development |
|
|
1,223,251 |
|
|
|
2,236,229 |
|
|
|
3,459,480 |
|
|
|
1,938,161 |
|
|
|
1,574,814 |
|
|
|
3,512,975 |
|
| Segment operating loss |
|
|
(2,982,227 |
) |
|
|
(5,690,435 |
) |
|
|
(8,672,662 |
) |
|
|
(4,094,655 |
) |
|
|
(4,881,051 |
) |
|
|
(8,975,706 |
) |
| Interest income |
|
|
135 |
|
|
|
- |
|
|
|
135 |
|
|
|
62,563 |
|
|
|
- |
|
|
|
62,563 |
|
| Interest expense |
|
|
(977,628 |
) |
|
|
(84,099 |
) |
|
|
(1,061,727 |
) |
|
|
(3,750 |
) |
|
|
(191,338 |
) |
|
|
(195,088 |
) |
| Other segment items |
|
|
(1,012 |
) |
|
|
(157,849 |
) |
|
|
(158,861 |
) |
|
|
(33 |
) |
|
|
(63,746 |
) |
|
|
(63,779 |
) |
| Segment loss before provision for income taxes |
|
$ |
(3,960,732 |
) |
|
$ |
(5,932,383 |
) |
|
$ |
(9,893,115 |
) |
|
$ |
(4,035,875 |
) |
|
$ |
(5,136,135 |
) |
|
$ |
(9,172,010 |
) |
| Corporate operating expenses |
|
|
- |
|
|
|
- |
|
|
|
(1,637,776 |
) |
|
|
- |
|
|
|
- |
|
|
|
(151,489 |
) |
| Elimination of intercompany interest |
|
|
- |
|
|
|
- |
|
|
|
262,259 |
|
|
|
- |
|
|
|
- |
|
|
|
188,975 |
|
| Corporate interest income |
|
|
- |
|
|
|
- |
|
|
|
200,671 |
|
|
|
- |
|
|
|
- |
|
|
|
34,938 |
|
| Corporate interest expense |
|
|
- |
|
|
|
- |
|
|
|
(3,068,389 |
) |
|
|
- |
|
|
|
- |
|
|
|
(776,498 |
) |
| Loss before income taxes |
|
|
- |
|
|
|
- |
|
|
$ |
(14,136,350 |
) |
|
|
- |
|
|
|
- |
|
|
$ |
(9,876,084 |
) |
Additional segment information is set forth below
as of and for the three months ended March 31, 2025 and 2024:
| |
|
Three Months Ended March 31, 2025 |
|
|
Three Months Ended March 31, 2024 |
|
| |
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
|
Ondas
Networks |
|
|
OAS |
|
|
Total |
|
| Total assets |
|
$ |
20,099,848 |
|
|
$ |
84,500,791 |
|
|
$ |
104,600,639 |
|
|
$ |
18,965,402 |
|
|
$ |
72,650,122 |
|
|
$ |
91,615,524 |
|
| Goodwill |
|
$ |
- |
|
|
$ |
27,751,921 |
|
|
$ |
27,751,921 |
|
|
$ |
- |
|
|
$ |
27,751,921 |
|
|
$ |
27,751,921 |
|
| Depreciation and amortization |
|
$ |
77,307 |
|
|
$ |
1,165,271 |
|
|
$ |
1,242,578 |
|
|
$ |
25,100 |
|
|
$ |
1,150,182 |
|
|
$ |
1,175,282 |
|
| Stock-based compensation |
|
$ |
433,554 |
|
|
$ |
1,139,091 |
|
|
$ |
1,572,645 |
|
|
$ |
137,488 |
|
|
$ |
132,065 |
|
|
$ |
269,553 |
|
| Capital expenditures |
|
$ |
- |
|
|
$ |
170,867 |
|
|
$ |
170,867 |
|
|
$ |
364,820 |
|
|
$ |
823,266 |
|
|
$ |
1,188,086 |
|
|